Can employees change their regime choices in same financial year?

Created by Product Content Team, Modified on Tue, 20 Feb at 11:02 AM by Product Content Team


The latest budget includes lower tax rates under the new regime. As per the notification from the Income Tax department, regime can be selected only once in the financial year. If an employee has business income, then regime selection will be restricted even for the next financial year.


Click here to subscribe to our help videos  

Related Links:

Video- To watch a video on Budget changes for FY 2023-24, click here.

FAQs: To read more about Budget changes for FY 2023-24, click here.

Documentation:

  • To learn more about the recent Budget changes for FY 2023-24, click here.
  • To learn more about the Tax Slabs of budget changes, click here.

Product Update- To read about the product update, click here.


Was this article helpful?

That’s Great!

Thank you for your feedback

Sorry! We couldn't be helpful

Thank you for your feedback

Let us know how can we improve this article!

Select at least one of the reasons
CAPTCHA verification is required.

Feedback sent

We appreciate your effort and will try to fix the article